Ukraine-Russia Talks Progress Come To A Deadlock, USOIL Price Remain High.
Ukraine-Russia talks didn’t end up in an agreement. What do you think about USoil in the day?
Investors who is conservatives shall observes and wait. Investors are radical can consider marginal Long at price 96.48, take profit at 99.05, and stop loss at 95.33.
On the 28th February, the Ukraine-Russia talks came to an end temporarily. The two sides still could not reach a consensus on the general direction. The Russian army continued to advance towards Kyiv, the capital of Ukraine. Western countries continued to provide humanitarian and military support to help resist the invasion. Russia was expelled from the international bank payment system, and their economy is on the verge of collapse. The EU stressed that if Russia does not stop fire, it will not rule out further sanctions on energy projects, allowing Western companies to withdraw funds from the Russian crude oil industry. At that time, Russia’s oil production capacity is expected to drop by at least 30%. The cost of oil transportation in the region is rising, and the market also expects that OPEC has no plan to increase oil production. Overall, the trend of USoil quotations is more likely to fluctuate, and it led USoil to a bullish perspective.
In the H1 chart, the probability of the K-line trend completes a double-bottom rebound pattern, which is conducive to a bullish layout. The KD indicator moves upwards and the multiple parties re-look for intervention opportunities. The overall probability is a a volatile session and have the chances to bounce back.
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